Consumer video streaming spending in the U.S. is forecast to continue its strong pace of growth -- 24% to $22 billion next year, according to the Consumer Technology Association.
CTA estimates that 2019 spending will hit $17.7 billion this year, up 25% from $14.1 billion a year ago.
Starting next month, and into next year, four major legacy media companies will start major premium video streaming services -- Apple TV+, Disney+, HBO Max and NBCU’s Peacock.
CTA also predicts that smart TV sales will rise 4% to 29 million next year from 27.9 million this year -- to make up 74% of all new TV sets sold in 2020.
Streaming media players will see some slower growth -- rising 10% to 19.9 million in 2019 (over 2018) and up 4% to 20.7 million in 2020.
Although CTA's analysis indicates that consumers generally feel positive about the integrated interface of smart TVs, not all smart TV app software provides the big roster of channels that streaming players have. For example, Roku claims there are more then 1,800 selections in its channel store.
CTA says that growth in video streaming will also come from free ad-supported streaming TV services -- such as Pluto TV, Xumo or Tubi.
In addition, new smart TVs, which include built-in digital antennas, will continue to lure potential cord-cutters, as those consumers will have their own video “bundles” -- streaming apps via their TV sets as well as over-the-air TV stations.